The European Research Council (ERC) is supporting some 480 early-career researchers over the coming five years with grants worth up to €2 million each. In this fourth 'ERC Starting Grant' competition, just over €670 million is allocated to top talent to carry out their pioneering research in any domain throughout Europe. The number of applications increased by 42% compared to last year. Press release: http://erc.europa.eu/pdf/press_release_stg2011_results.pdf
23 of these grants go to young mathematicians. A list of grant recipients and their projects can be found at http://www.euro-math-soc.eu/node/1813 .